Health Insurance ” What You Need to Know

Health Insurance – an important buy that many people underestimate due to their lack of knowledge about the inner workings and bypasses that are available for anyone who delves a little into life insurance and its premiums can definitely allow you to save thousands when it comes to emergencies, and other situations that your family or you can face when it comes to health issues. This is a well-trodden path for mental and physical peace and there are various flavours in which it comes.

Some of these varieties are listed below and are very important things to consider as your health care depends on the amount of money you are willing to spend on and this is an important criterion for managing your finances as well. Since there are a myriad of options, it is not a very hard thing to manage. Different Health Insurance Policies for Different Needs


If you do not have health insurance with your employer, or if your employer offers a plan that either has little benefit or it is very costly, you may want to look around for your own health insurance. This would also be true for self-employed individuals or small businesses, and it would also apply to anyone who is unemployed. These are all great reasons to take a look at individual health care plans. Individual health care plans can have any size deductible and may have lifetime benefit limits.

Private or individual plans can be tailored to suit ones needs in any way possible. This makes it a perfect insurance plan for those who are self employed or moving between jobs or those who cannot afford their employers insurance package.

Family Plans

A health insurance plan for the family is basically an individual plan with spouse and children added. Generally it is cheaper to buy insurance for the entire family than it is to buy insurance for each member of the family individually, but this is not always the case; so always compare to make sure that you are getting the best deal possible. Even if your health insurance needs are covered at work by your employer, it may be cheaper for you to buy your own insurance for the rest of your family, so check before you just assume that your employers plan is cheaper or better for the entire family.

Group Plans

Generally this type of health insurance is provided by your employer. Frequently group insurance rates are cheaper than individual rates because your employer has many people on its health insurance policy, so it has the advantage of collective bargaining power to negotiate better rates and coverage. Group insurance does not require that the individuals in the group be underwritten or approved, and by having so many members insured it spreads out the risk for the insurance carrier again allowing them to offer lower rates. Employers should take the time to compare several different plans before committing to a single one, because just like individual and family plans there are a multitude of prices and benefits available.

Short Term

These health policies exist for a very short while and are designed to be continuity policies in the incident of losing a job. Since this also means that the company’s health coverage is also laid off, holding on to insurance is necessary as this eases the process of getting an individual coverage later on. Most companies in the US are required by law to continue the coverage of their ex-employees in the COBRA scheme ” however this is expensive for some. Thus, short term policies work wonders with this group.

Student Insurance

College students have a hard time getting health insurance. Since they cannot be covered by their parents policy (as they are too old) and as they do not have a job, they cannot be covered by a company’s insurance either. Student insurance policies are necessary for college goers as they bridge a considerably large gap between their childhood and their adulthood and make their schooling stress-free when it comes to medical expenses at least! Many schools offer their own health insurance as well, however a private health insurance is better since it allows for more flexibility in practitioner choice.

Supplemental Insurance

With the rising cost of health care, it is impossible to even keep up with insured health costs on a fixed budget. The payable money after Medicare and other insurances themselves come to a thousand dollars or more. Supplemental insurance adds on to these smaller insurance policies to ensure that you do not have to pay too much by way of insurance. PPO, Medi-gap or HMO policies are also included with supplemental insurance and are very useful for those who wish to have an affordable health care solution.

Dental Plans

Dental care has become a prime concern for many citizens of the US. With the rising costs of dental care, it has become as expensive, if not more, than traditional medicine. Thus, many people carry their own dental insurance to be saved from the highly pocket-unfriendly dental costs that they may acquire over time.

Some companies also offer dental care as a group policy, thereby eliminating the need for going for a separate one altogether. However, you need to know what is covered and what is not to ensure that you are buying the correct policy.

Travel Insurance

This type of health insurance offers additional coverage to those who travel outside of the country. Something to consider before embarking on your world cruise is that many health insurance plans are not valid outside of the United States. As a result, it may make sense for you to be covered with a travel plan when you are traveling outside of the country. This type of insurance is usually very inexpensive while offering you some added protection while traveling abroad. If you are traveling outside of the U.S. borders especially for any extended period of time, you should check into a travel policy for your health insurance.

If you are leaving the United States to explore the world, always pays to keep a proper medical insurance under your travel kit to be safe.

International Policies

This insurance is for those people who are living abroad. They can avail a homely insurance that is tailored for the country they are living in and offer the same kind of flexibility as with individual or private insurance. For those living abroad for longer than a year, this affordable and well-priced policy is an absolute necessity and can make your stay in that country comfortable and health care-wise risk-free.

With the help of the Internet, health insurance shopping is now easier today than ever before. With most insurance companies you can get quotes instantly and submit your application just as quickly. If you look on-line to compare prices and benefits and you just find yourself getting confused, just call the company and they are always helpful explaining the different policy benefits and costs. So, armed with your research, you will certainly make the best possible choices when it comes to your health insurance plan.